Crypto Currency Bubble
 

I know some of you are familiar with this...

Basically Bitcoin, Ethereum, and Litecoin have hit all time high

I invested in Bitcoin when it was $3,000 USD to 1 Bitcoin. Now 1 Bitcoin is worth like $10,000 today

How soon do you think it'll be before the bubble bursts? Any Wall St/Finance guys? I can't put my numerology skills to use here

Everyone is buying so I don't see how everyone can get richer. When everyone buys is that not when I should sell? Because now that everyone is buying in doesn't that decrease the value?Why do I feel like it'll implode on itself before it hits $20,000 and a lot of people will be assed out?

This is stuff I was talking about LITERALLY months ago. Boring thread is boring.
@Dirty Work to confirm.

You weren't talking about it months ago because these 3 currencies never hit all time highs almost simultaneously

I thought I was the pseudo-psychic numerologist guy

We have a time traveller on Letsbeef too now?

Yes. Time is a nonlinear directional plane. I exist at all times, at once.

What the actual fuck.

I should have invested in it, but I'm not going to do it now, shit's likely to collapse like hell soon.

By the way, why didn't you invest in it when you could get multiples for a cent?

Lol u tripled ur money why get greedy

Bail

Can't you mine your own? I never looked into but I really should have, I probably could've cashed out on 100K and I would've been set for life

That's because this involves real math.

Seriously? Bro...

Ya'll niggaaaarrrrsss need to realize the people been saying the money is gonna crash 4 ages and it hasn't i don't know whats going down with the money. David icke did cover this recently tho i saw that video but that was about how the world is going cashless kind of.

For all the people on here who bash Godbody when he mentions alex jones ya'll should peep David icke cause alex jones is nothing compared to david icke, well they cover similar topics actually but david icke gets more into it sometimes.

Whats gonna happen with this money shit tho? i heard sooo much shit about it but nothing seems to change we did get new notes here though.. thats it so far :/

Cash out some of it. No one really knows when its gonna crash, everyone thinks they do. Just pat yourself on the back for getting in early & don't squander it by getting greedy or blowing your load too early.

$20,000? That's crazy! It seems like only a month ago when it surpassed $3,000. I don't think it's too crazy an idea to think that with more adoption of bitcoin use, the price may come down. Usually that's how supply and demand works. But I think the type of adoption you really need to look out for is with the major banks. Here in Canada, for example, a lot of the major banks are already experimenting with blockchain technology, the same tech behind bitcoin. They have created a cryptocurrency to be used only between banks rather than for people in general, but the idea is to introduce it as an official digital alternative to cash in the future. I think once you have most major banks doing this and they have came up with a viable alternative, that is when bitcoin will crash. They like the security of bitcoin (which is why it's value is going through the roof) but they don't like the fact it's decentralized (or the fact they can't control it) so they will make their own alternatives.

Quick calculation:

In March 2010, the price of a bitcoin was $0.003. [I won't take inflation into account.]

The current price of a bitcoin is $10559.45, according to Google.

[10559.45/0.0003] = 35198166. In other words, for each dollar you invested in Bitcoin in March 2010, you would have over 35 million dollars today.

If I ever get a time machine...

So I decided to invest in Ripple over a month ago. It was worth 27 cents at the time. I invested 3 figures and just pulled most of it out today, after failing to take it out a week ago (it hit an all time high). My 3 figure investment gave me a high 4 figure return

I'm not going to throw numbers around but just know you can definitely live the American Dream through Crypto. I'd say it's at the end of its rope or the bubble will burst, but if you're smart you'll invest in cryptos that actually serve a purpose. Bitcoin is a store of value and serves no purpose, whereas Ripple serves the purpose of facilitating and simplifying money transfers

Pulled out 80% of my Ripple upon hearing they teamed up with MoneyGram, which brought it's value up by 15%

Took an L in Bitcoin but thankfully the 3 digit number I invested into Bitcoin meant shit compared to Ripple when $1 got me over 3 Ripple at the time

Keep an eye on TRON. It's been going down dramatically, if it goes down again today/tomorrow I might just buy.

I heard Ethereum, is really good too.

I've done a little research on it, but I think the conspiracy theorist can probably explain it better.

There's no conspiracy here. I invested into Ripple because I'm smart and as usual I'm onto something before the masses

Ripple is to facilitate money transfers, controlled supply in circulation, and when I read up on it supposedly American Express and Santander Bank were going to work with Ripple. Investing was a no brainer for me. I had people in my ear telling me to put all my money in Bitcoin, Litecoin..a whole bunch of bullshit that's crashing while Ripple remains strong.

With Bitcoin you have to mine the supply, people spend endless resources mining it. Some even have bitcoin mining centers where they let their hardware do all the work for them. The problem is Bitcoin is worth thousands so I saw no value in it for me to invest and make little, if any, return. Especially because it takes a lot of resources just to get a fraction of a coin. Ripple is somewhat centralized (government backed) so it made sense to me that Ripple would stand the test of time while other cryptos came and went.

If you have a brain and you use common sense it's easy to see which cryptos are here to stay and which ones are bullshit.

Ethereum Raiblocks (XRB) is meant to be good too, i just don't fucking understand how to invest in this shit... like idk what website you use or how to do it, shits confusing.. some1 explain? Ethereum Raiblocks (XRB) is meant to be the one to get, check it out ya'll.

Investing in bitcoin is dumb, it's possible that you will make money, but it's just as possible that you will lose a shit ton.

I invested in btconnect a few months ago, letting it ride for 2 years, if the site doesn't RIP it could be worth 2 mill in 2 years, I'll be a millionaire before this shits done.

it's crazy if I keep all my bitcoin sense 2010 I would be a millionaire 100 times over.

That's kinda the entire premise of stock trading as well, you'll hit a wall make a mistake or lose some money inevitably if youre in the game long enough, but if you know when to pull out and what amount to pull out just create a safety net and always have more than you initially put in. It's entirely possible to cash in on BTC, just takes timing & apt decision making

Not investing in cryptocurrency is dumb. It's just a matter of time before it hits the mainstream. Short-term ability to make and lose huge amounts of money are both feasible. Long term I think it's just a matter of time before it becomes a part of our day to day at which point the cost of the coins will be much higher.

I have a few hundred in, but I've basically forgotten about that money now. I'll let it do it's thing and see where the ride takes us.

I used to think people saying this were engaging in wishful thinking, but I'm kinda getting on board with this idea myself. It got to a pretty crazy high point not too long ago which kind of put into perspective the potential of BTC and cryptocurrencies as a general concept have. Idk how central to our way of currency it can become due to its finicky nature but serving as a wide-scale secondary payment option/source of trade is I think already setting itself up (hopefully not for failure.)

that's with any investment.

Of course you're getting on board. Crypto currency is a concept

The same way we had to buy into pieces of paper being used as currency, we can have virtual currency if enough people buy into the concept. The same way we had flip phones and enough people bought into the smartphone concept to make it a mainstay in the handset realm. This is no different

And like others have pointed out.. making/losing money pretty much applies to any investment. It just boils down to how good the investment is and how risk-averse you are

Not all investments are as volatile and unstable as bitcoin

You guys keep talking about Bitcoin but there are other cryptos that go up and down marginally on a daily basis. That's not to say they can't and won't become volatile. But what's a couple of cents on the dollar versus Bitcoin fluctuating by hundreds or thousands of dollars at a time?

Just got coinbase. Gonna put some spare cash in and see what happens. Still gotta wait a few days to get verified. What are y'all using to navigate this shit?

This is completely false, there is other coins other than bitcoin, anyone can literally create a crypto currency, I can make a diacoin if I wanted rofl, if you know what you doing you will make money just like with any other investment, dudes went from sleeping on there couch's to living in mansions off this shit, due to some bitcoin they forgot about, you can live off bitcoin/crypto these days, and thats scary,if you invest/reinvest in the right companies you will clean up,if bitcoin goes down it will come back up, so don't get paranoid and pull your money out because it goes down.

What does that have to do with anything?

It's no secret that a month ago bitcoin hit an all time high $19k only for it to drop to $14k then for it to rise again to $17k last week and then back down to 13k a week later. That's a 4k fluctuation each week and that's what volatility means. People living on 'mansions and shit' does not mean that they are smart investors nor that bitcoin is the way forward. They just got lucky, as if the won the lotto.

Your exposure on bitcoin's price is enormous anyway you slice it. Now, talking volatility in stock market terms, yes, there are some stocks who's price flactuate alot but then again the price per unit is a 1000x less than that of a bitcoin (as high volatile stocks are startup companies). If you want to spend thousands to purchase a single stock in the stock market, then you are looking at blue chips that more or less have stable returns. When investing in the stock market no one goes all out and invests on volatile stocks. They include these stocks in a portfolio and then diversify the risk through fixed income instruments and other alternatve investment instruments (that have low correlation to stocks). That is smart investing.

Bitcoin is just a shithole. You spend 14k to buy today and may already be 4k short by tommorow. This ain't investing...its gambling

PS: No other cryptocurrency will reach the levels of performance that bitcoin did simply because there are to many out there now. This means, that people will try to invest in the next bitcoin (every person investing in to a different crypto) rather than draw all of this demand/attention into a specific one (which will lead to a hge price increase).

A real investor won't get paranoid when shit goes down, because it will just go back up, a good way to lose your money is to pull it out when it goes down, like I said, any investment is risky, it's probably more controlled than the stock market/real estate right now, this attitude is why me and many others didn't jump on it in 2010, we could all be millionaires by now, and it wouldn't be luck either,all them dudes that got rich off it, new what was going to happen, and wasn't stubborn like we was, so I hardly call that luck.

Not really, I used to trade professionally and there are no fundamentals to bitcoin that gives it value. When you invest in a ticker you're really trading on a valuation of future cash flow for a company, bitcoin has no inherent value. It's currency speculation.

When you do currency speculation you're betting on the faith, credit, and economy of a certain country and or central bank that issues the currency. Bitcoin has no meaningful economy, it is an inherently unusable currency for a multitude of reasons, mainly the facts that it has no countercyclical monetary controls to control money flow and no way money multiplier effect from banks that could leverage the deflationary tendencies of Bitcoin. Bitcoin is just based off of speculation, and speculative bubbles are basically an incredible way to lose money.

Can you make money off of bitcoin? Sure. Can you lose way more. Absolutely. You should make investments based off of fundamentals and numbers, not off of the Bitcoin slot machine, especially at such an inflated price.

---------- Post added at 12:22 PM ---------- Previous post was at 12:20 PM ----------

The mainstream of cryptocurrency will be a federally backed crypto whose value matches the dollar. I think it will happen pretty soon, and I personally would welcome it.

I used to have a spreadsheet where I invested fictional money in stocks and followed their performance. I gained quite a bit of money. Tfw I'm better at stock trading than some companies

Oh please.

The reason that you would hold a stock or a currency in a downturn or even a loss if your models still show that you can and will make money based off of your valuation. Bitcoin has no fundamental value, it is not the same.

---------- Post added at 12:42 PM ---------- Previous post was at 12:25 PM ----------

A few other things. Here is why the bitcoin bubble will pop CRAZY hard.


Investors have break-even points, what I mean is this... If you invest in a stock at 10 dollars that is your break-even. If the value of the stock goes below 10 then you are losing money. Your decision to either hold or sell is based upon your valuation of the stock. If you think the stock should be worth $20 then you will hold due to your belief that the market price will eventually reflect that. If you think that the stock is really worth $5 and you're just trading momentum then you will sell at or around 10 because you don't have faith in it going higher.


Momentum stocks are usually top loaded, meaning a few people get in at the bottom and make a ton, but most people get in much later during the frenzy and buy at a price above the valuation. This buying keeps upping the price so that more and more people keep getting in and it goes up a shit ton. Eventually, people get scared and start selling off. Since most of the people are in at the top, and they are above their valuation (bitcoin has no valuation, fwiw) they have no incentive to hold below their break even. Thus, when you get a major downward move in a crypto like bitcoin the huge mass of people invested at the top all start selling and the massive sell pressure drives the price down massive amounts. This has already happened to some degree a couple of times already. Bitcoin has ZERO fundamental valuation and the only reason people hold it is because they think they can make money off of it. Once people realize they cannot make money buying pressure will fail and the currency will go down a crazy amount. I think that there will someday be the bitcoin superpop and it could go under 1k.


Another thing, bitcoin has no valuation because it is basically unusable as a currency. It is a volatile deflationary currency with no banking system and an economic model that hasn't been used since the 1800's. It is a horrible currency for actually using on a day to day basis, it cannot power a stable economy.

---------- Post added at 12:45 PM ---------- Previous post was at 12:42 PM ----------

No you're not, because most companies are going to HFT and algo trading, which blows any human trader out of the water. A good quant can write a python script, backtest it, and destroy 99% of human traders within a week.

Then how come I had better returns than them? If they got half the returns I did they'd be doing way better than they are. Sorry retard, proof is in the pudding and I am a genius.

I'll fuck you up in an 8 too. Send bars faggot

lol what companies are you referring to? Real prop trading is HFT's. Hedge funds and shit are dying. Also returns have to normalized over a multi-year period to remove statistical noise, you can randomly pick stocks and defeat professionals in the short term. 8's are also fucking retarded, not going less than 16.

aight I'll cook something up and murder you

By the way, lol @ the idea of using a script to determine what stocks to buy. That shit'll get you a six figure job maybe but it's not going to get you rich. If you want to do that, you'll need the sort of brilliant insight which only geniuses like me can bring to the table

what are you talking about there is is fundamental value in bitcoin, you can live off the shit, it could be at 100k by tomorrow, those who pulled there money out will be kicking there feet, if it goes down it will go back up, I would certainly rather invest in crypto than real estate right now.